What Bitcoin Isn't: A Ponzi, Unbacked, Tulipmania

Given the current, latest successive series of spikes to all-time highs for Bitcoin, the detractors are working overtime to make the case that the crypto-currency is a Ponzi, a scam, a phantasm, or, at the very least, a bubble. Oddly, many of these same detractors spend a lot of time cheerleading "the other bubble," that everything-bubble, stocks, bonds, real estate, even ETFs of ETFs, you name it.